A study conducted by Forrester Consulting on behalf of VoucherCodes.co.uk reveals the online voucher market is still gowing. And advertisers who are utilising vouchers as a marketing channel enjoy a number of measurable benefits.

The research, conducted amongst UK voucher users, analysed the impact online codes have for advertisers.

Two thirds (66 per cent) of voucher users surveyed indicated that they were likely to use more voucher codes in the next year, with 41 per cent of respondents expecting to use voucher codes on a quarter or more of all of their online purchases throughout 2012.

Aside from an increased adoption of online codes, the study reveals voucher sites increase the amount spent by consumers online, help improve advertisers conversion rates among customers an ultimately a company’s brand reputation.

Among active voucher code users, those consumers who redeemed at least six voucher codes over the past 12 months, the average reported online spend was £835. This is 71 per cent higher than the £488 spent on average by light users (who used less than six codes over the past 12 months).

In addition, those who said that they increased their voucher code use over the past 12 months spent more on average (£671) than those who indicated that their use of voucher codes stayed the same in the past year (£542).

Forrester’s study also reveals voucher codes are particularly effective when it comes to encouraging shoppers to try new products or finalise a purchase decision. Active voucher users are more likely to try a new brand than light voucher users (76 per cent versus 68 per cent respectively).

Around two thirds (65 per cent) of respondents agreed with the statement "online voucher codes often finalise the decision for me if I’m undecided on a purchase", versus just 10 per cent who disagreed.

Finally, the findings from Forrester’s study demonstrate online voucher codes reinforce brand image and bolster brand loyalty. Almost three quarters of voucher users (71 per cent) claimed they would be more likely to be loyal to a brand that offers online voucher codes.

Max Jennings, co-founder of VoucherCodes.co.uk commented: “The key findings from this new body of research help underline the value of voucher codes as an effective marketing channel for advertisers eager to maximise sales and drive incremental business.

"Reflecting the changing way consumers shop and engage with brands online, the report demonstrates the positive role voucher codes play in influencing the purchase cycle, improving both brand loyalty and conversion rates. Against this backdrop, voucher codes become the smart way for advertisers to target and convert an increasingly savvy online audience.”

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